Banco BISA Branches Out to Overcome Challenges

Nov 1, 2001

Competition with foreign banks such as Citibank and BSCH's
Banco Santa Cruz have kept Banco BISA, Bolivia's largest
domestically owned bank, on its toes this past year. The bank
is also challenged by its clients' inability to repay loans and
a nearly 25% decrease in net earnings from last year's $12.4
million. But according to BISA executive vice president
José Luis Aranguren, the addition of subsidiary
businesses, including asset management, brokerage services and
insurance, allowed the bank to strengthen its balance sheet
dramatically, despite the...